Compare Student Loans
Private student loans and refinancing explained with clear costs and practical context.
Start with the decision you need to make
Start with federal student aid
Complete the FAFSA and review the school’s aid offer before shopping for a private loan. Federal student loans generally include protections and repayment options that private lenders do not have to match.
Borrow only the gap between the school’s full cost and resources already available. Include tuition, required fees, housing, food, books, transportation, and a modest contingency—then subtract grants, scholarships, work income, savings, and federal aid.
How to compare private student loans
Compare fixed and variable APRs, whether a cosigner is required, cosigner-release rules, in-school payment choices, grace periods, term length, fees, and hardship options. A variable rate can change, so the first payment is not a complete picture of future cost.
Approval and price may depend on the applicant’s or cosigner’s credit and income. Compare several offers where possible, but read the credit-inquiry disclosure before submitting personal information.
Refinancing deserves extra caution
Refinancing replaces existing loans with a new private loan. It may lower a qualified borrower’s rate or simplify payments, but the new term can also increase lifetime interest even when the payment falls.
Moving federal loans into a private refinance loan is generally irreversible and gives up federal protections tied to those loans. Review current federal repayment, deferment, forgiveness, and discharge options before making that choice.